Ormat Technologies has committed a $25 million equity investment in an over $97 million Series B financing round for Sage Geosystems, positioning itself as co-lead alongside Carbon Direct Capital. The funding will accelerate Sage’s development of next-generation Pressure Geothermal and energy storage solutions, including the construction of its first commercial facility. Ormat’s strategic equity stake complements an existing commercial agreement under which Sage will pilot its proprietary technology at an Ormat-operated geothermal plant. Upon successful pilot completion, Ormat secures exclusive rights to develop, build, own and operate geothermal power plants and energy storage projects employing Sage’s systems, reinforcing Ormat’s Enhanced Geothermal Systems (EGS) portfolio.

Ormat has been awarded the Telaga Ranu geothermal concession in Indonesia, which is expected to add up to 40 MW of capacity. This award advances Ormat’s global pipeline toward its 200 MW target and underscores the company’s emphasis on high-quality resource expansions in Asia Pacific. Under the concession terms, Ormat will lead reservoir exploration, plant design and construction, targeting first power output within three years. The project leverages Ormat’s vertically integrated model—spanning resource development, design, manufacturing and operations—and supports its objective to grow its total generating portfolio beyond 1,700 MW.